Daily Brief Thematic (Sector/Industry): Ohayo Japan | Record Close Ahead of Nvidia and more

• U.S. markets closed higher Wednesday with the S&P 500 gaining 0.2% to a record 6,481, while the Nasdaq rose 0.2%, as investors waited on Nvidia’s after-hours earnings repor
• Nvidia reported better-than-expected quarterly results with revenue of $46.7 billion versus $46.1 billion estimated and earnings per share of $1.05 versus $1.01 expected
• Seven & i Holdings plans to invest 2 trillion yen overseas from fiscal 2025-30, doubling the scale of previous plans

• HDD plays WD and Seagate pulling ahead of NAND plays but there may be upside on potential for increased DC adoption for likes of Kioxia.
• Mitsubishi Motors cut their FY guidance as competition heats up in key Asian markets as China makers muscle their way in.
• Nikon +21% yesterday as EL takes a bigger stake, but don’t forget the largest holder activist Silchester-  who may have their own plans.

• The United States government now owns 10% of Intel, a move that is seen as a vote of confidence in the company’s future
• The deal, worth $8.9 billion, involves the government buying new shares at a 20% discount, leading to dilution for existing shareholders
• There are still many unanswered questions about the deal, including the government’s role in Intel’s decision-making and the company’s commitment to advancing technology.

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• Imports are swinging sharply between palm, soy, and even canola, while refinery utilization remains weak and farmer incentives are misaligned.
• This leaves India exposed to global volatility, undercuts the self-sufficiency agenda, and pressures margins across refiners and FMCG players.
• Duty cuts buy time, but unless farmer economics tilt back toward oilseeds, India’s edible-oil puzzle will remain unresolved.

• We highlight 14 stocks in Thailand that look interesting to us based on our FVMR Methodology
• Portfolio changes: 10 stocks remain, four new join the fray
• Since inception, it has gained 75% versus the SET 100 Index’s return of 20%

• GLP has divested a $350 million stake in its China data center business to Zhejiang government entities.
• The Asia-Pacific data center pipeline has seen a 16% increase in the first half of the year, fueled by AI demand.
• Singapore’s Urban Redevelopment Authority has issued a tender for a site in Bukit Timah for 340 residential homes.